We have about a million budget and are trying to decide between getting a tri or quadplex close to home for long term rentals and continue to self manage or invest in a short term vacation property up in the TN or NC mountains near a city with plenty of tourism (Gatlinburg, Asheville, etc.) what would you do and why??

I would do it myself to get a good idea to budget off of.

From this, we learned the importance of budgeting to have the work done by someone else even if you will contribute certain parts.

I moved back into...I'm considering cash out refinancing the property to tap 150K equity on a house I put 11K down for...My cash flow is 1K a month after all expenses and budgeting for vacancy, capex, etc.

The contractor did not begin until Oct 2018, (contractor fell off truck and broke his ribs, his business partner died, etc.) it is a long story, so I will not get into it.

I moved back into...I'm considering cash out refinancing the property to tap 150K equity on a house I put 11K down for almost 8 years ago...My cash flow is 1K a month after all expenses and budgeting for vacancy, capex, etc.

I under budgeted for the rehab and am now left with $100k in loans and credit debt at an average rate of 13.35%.

Purchase price: $35,000 Cash invested: $25,000 2/1 on 3 lots = 0.35 acres in Lawn, Texas - population 353.Rehab budget $10,000Doing all cosmetic work myselfHouse pier & beam foundation leveledElectrical was already updatedplumbing was already updatedCentral air & Heat was also already presentTearing off porch currently to open up.

Bid for a budget needed.

A few things to think about:Include a budget for initial repairs.